FELTON, California, June 8, 2017 /PRNewswire/ --
The global acetone market size was USD 5.75 billion in 2016 and is expected to reach USD 22.10 billion by 2024. Acetone is used as a solvent in adhesives, nail polish remover, paints & coatings, and other skin care products. It is also used in the manufacturing of Methyl Methacrylate & Bisphenol-A.
Polycarbonate plastic is derived from Bisphenol-A. An increasing use of polycarbonate in the automotive industry is one of the key growth factor for the acetone market. Polycarbonate is increasingly used as a substitute for metal and glass in automotive industry.
Automotive manufacturers are increasingly using polycarbonate for lighting applications, such as light housing, headlamp lenses, bezels that require transparency, high temperature resistance, it also offers better functional integration and designing freedom to vendors. An increasing demand for light vehicles with improved fuel efficiency is driving the manufacturers to depend on polycarbonate that helps to reduce the weight of the vehicles.
Increasing demand of methyl methacrylate to produce polymethyl methacrylate resins used in electronics and automotive industry is a key factor for growth of the acetone market. Keeping these driving factors in mind companies are increasing their production capacity in order to meet the global demand. For instance, Vadodara-based chemical manufacturer Deepak Nitrite Limited is expected to invest INR 1,200 crores to set up a phenol and acetone plant at Dahej in Bharuch district of Gujarat to cater the increasing demand for acetone in the region.
Browse full research report with TOC on "Acetone Market Size And Forecast, By Application (Solvent, MMA, BPA), By Region (North America, Europe, APAC, Central & South America, MEA) And Trend Analysis, 2014 - 2024" at: https://www.hexaresearch.com/research-report/acetone-market.
In 2016, Asia Pacific was largest revenue generating owing to the development of automotive and electronics industries. Furthermore, growing pharmaceutical sector in China and India is expected to propel the demand for acetone. An increasing demand for bio based acetone and strict government regulations is expected to slow the market growth of acetone. Moreover, contact with acetone is dangerous for health and can cause intoxication, dizziness, nausea, unconsciousness which in turn may hamper the market growth.
Browse related reports by Hexa Research:
- Benzoic Acid Market - https://www.hexaresearch.com/research-report/benzoic-acid-market
- Biopolymer Films Market - https://www.hexaresearch.com/research-report/biopolymer-films-market
- Alkyl Polyglucosides (APG) Biosurfactants Market - https://www.hexaresearch.com/research-report/alkyl-polyglucosides-apg-biosurfactants-market
- Solvent Market - https://www.hexaresearch.com/research-report/solvent-market
Hexa Research has segmented the global acetone market on the basis of application and region:
- Segmentation by application, 2014 - 2024 (Kilo Tons) (USD Million)
- Methyl methacrylate (MMA)
- Bisphenol-A (BPA)
- Segmentation by region, 2014 - 2024 (Kilo Tons) (USD Million)
- North America
- Asia Pacific
- Central & South America
- North America
- Key players analyzed:
- INEOS Phenol company
- Mitsui Chemicals
- The DOW Chemical Company
- U.S. Chemicals
- Formosa Chemicals
About Hexa Research
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Corporate Sales Specialist
Toll Free: +1-800-489-3075
SOURCE Hexa Research